Stock Under $10 with 50-100% upside potential - 14 Days FREE!

General Dynamics Awarded $133 Million To Upgrade 66 Additional LAV III Vehicles By The Government Of Canada

Stock quotes in this article: GD 

EDMONTON, Alberta and LONDON, Ontario, Nov. 9, 2012 /PRNewswire/ -- The Honourable Rona Ambrose, Minister of Public Works and Government Services and Minister for Status of Women, announced today that the Government of Canada has awarded a contract modification valued at $133.5 million to General Dynamics Land Systems-Canada to upgrade an additional 66 LAV III vehicles.  This award modifies a contract previously announced in October 2011 to upgrade 550 LAV III vehicles, valued at $1 billion.

The LAV III Upgrade Project will now modernize 616 vehicles, significantly enhancing their survivability, mobility and firepower and extending the fleet's lifecycle to 2035.   Survivability upgrades will include the introduction of double-V-hull technology, an innovative enhancement developed by General Dynamics Land Systems-Canada engineers, as well as add-on armour protection and energy-attenuating seats. These improvements will provide crew members greater protection against mine blasts, IEDs and other threats.

The LAV III's automotive performance, handling characteristics and payload capacity will be optimized with mobility system upgrades including a more powerful engine, more robust driveline and suspension, and a height management system (HMS). The 25mm turret's crew ergonomics will be improved by incorporating larger hatches, and its capabilities will be enhanced by the addition of the latest technologies, including improved fire control, thermal, day and low-light sights and data displays.

"Helping to protect the men and women of the Canadian Forces is a privileged role, and we understand our responsibility and what is at stake," said Danny Deep, vice president of General Dynamics Land Systems-Canada. "The upgraded LAV III will provide our Canadian soldiers with one of the most advanced and modern vehicles of this type in the world.  It will also provide much-needed job stability throughout Canada's high-value defence sector."

The upgrades represent the latest armoured vehicle technologies developed by General Dynamics Land Systems-Canada's engineers and its Canada-wide supplier base. Significant work will be performed at General Dynamics' facilities in London, Ontario, and Edmonton, Alberta, as well as the company's nationwide network of over 500 Canadian suppliers. All regions of Canada will benefit from this work, which is expected to be completed in 2017.

For information about General Dynamics Land Systems–Canada, please visit www.gdlscanada.com.

More information about General Dynamics is available on the Internet at www.generaldynamics.com .

SOURCE General Dynamics Land Systems-Canada

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
TRY IT FREE

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
Dividend Stock Advisor
TRY IT FREE
New! $49.95/yr

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Stocks Under $10
TRY IT FREE

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Real Money
TRY IT FREE

24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.

Product Features:
  • Jim Cramer + 20 Wall Street pros
  • Intraday commentary & news
  • Real-time trading forum
  • Actionable trade ideas
Real Money Pro
TRY IT FREE

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass + 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
TRY IT FREE

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 15,335.28 -19.12 -0.12%
NASDAQ 3,496.43 -2.54 -0.07%
S&P 500 1,666.29 -1.18 -0.07%
US 10 Yr 1.965% +0.016

Brokerage Partners

Advertising Partners
Special Features

Free Newsletters from TheStreet

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

We respect your privacy. Manage Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs